full transcript
From the Ted Talk by Michael Metcalfe: We need money for aid. So let’s print it.
Unscramble the Blue Letters
Before the crisis, this would have been ueltrty unthinkable, yet it was accepted remarkably quickly. The price of gold, an aesst thought to protect against inlotfian, did jump, but inevstors bought other assets that offered little petrctoion from inflation. They bought fixed income securities, bonds. They bought equities too. For all the scare stories, the autacl actions of investors spoke of rapid acceptance and confidence.
That confidence was based on two pillars. The first was that, after years of keeping inflation under control, central banks were trusted to take the money-printing away if inflation became a threat. Secondly, inflation smlipy never became a threat. As you can see, in the United States, inflation for most of this period riemnaed below average. It was the same elsewhere.
Open Cloze
Before the crisis, this would have been _______ unthinkable, yet it was accepted remarkably quickly. The price of gold, an _____ thought to protect against _________, did jump, but _________ bought other assets that offered little __________ from inflation. They bought fixed income securities, bonds. They bought equities too. For all the scare stories, the ______ actions of investors spoke of rapid acceptance and confidence.
That confidence was based on two pillars. The first was that, after years of keeping inflation under control, central banks were trusted to take the money-printing away if inflation became a threat. Secondly, inflation ______ never became a threat. As you can see, in the United States, inflation for most of this period ________ below average. It was the same elsewhere.
Solution
- simply
- protection
- remained
- utterly
- investors
- inflation
- asset
- actual
Original Text
Before the crisis, this would have been utterly unthinkable, yet it was accepted remarkably quickly. The price of gold, an asset thought to protect against inflation, did jump, but investors bought other assets that offered little protection from inflation. They bought fixed income securities, bonds. They bought equities too. For all the scare stories, the actual actions of investors spoke of rapid acceptance and confidence.
That confidence was based on two pillars. The first was that, after years of keeping inflation under control, central banks were trusted to take the money-printing away if inflation became a threat. Secondly, inflation simply never became a threat. As you can see, in the United States, inflation for most of this period remained below average. It was the same elsewhere.
Frequently Occurring Word Combinations
ngrams of length 2
collocation |
frequency |
central banks |
5 |
aid payments |
4 |
international aid |
3 |
financial crisis |
2 |
print money |
2 |
overseas aid |
2 |
national income |
2 |
central bank |
2 |
print aid |
2 |
money creation |
2 |
case today |
2 |
ngrams of length 3
collocation |
frequency |
overseas aid payments |
2 |
Important Words
- acceptance
- accepted
- actions
- actual
- asset
- assets
- average
- banks
- based
- bonds
- bought
- central
- confidence
- control
- crisis
- equities
- fixed
- gold
- income
- inflation
- investors
- jump
- keeping
- offered
- period
- pillars
- price
- protect
- protection
- quickly
- rapid
- remained
- remarkably
- scare
- securities
- simply
- spoke
- states
- stories
- thought
- threat
- trusted
- united
- unthinkable
- utterly
- years